(Bloomberg) -- Duetti, a company that launched last May and buys the rights to songs from independent artists, has raised $90 million to build its staff and do more deals.

The financing includes $15 million in equity from investors led by the venture capital firm Nyca Partners, and a $75 million credit facility provided by Northleaf Capital Partners, a private equity firm, according a statement from the company. The agreements bring Duetti’s total funding to over $120 million.

The new equity will go toward building Duetti’s team and platform while the debt will be used to finance song acquisitions. Since its launch, Duetti has worked with “many hundreds of tracks,” according to Lior Tibon, chief executive officer and co-founder. Fifteen percent of artists who signed an individual song deal with Duetti returned to do another, said Tibon, who was previously chief operating officer at music streaming service Tidal.

“We’re really excited about that,” he said in an interview. “The vast majority of artists that we work with are very active.” 

Longer term, Duetti wants to serve as a partner to artists, providing financing so they can continue to make music while working independently from traditional record labels.

Artists working with the company include Olivia O’Brien, Sevyn Streeter and Łaszewo.

The splashiest catalog deals have involved music legends selling their works. Sony Music last week bought a 50% stake in Michael Jackson’s catalog for a reported $600 million, for instance, while Enrique Iglesias sold his recorded music catalog to the Warner Music Group-backed Influence Media Partners in December.

Unlike the majority of other companies interested in acquiring rights to songs, Duetti primarily focuses on newer tracks from working artists. Still, the company requires that songs be at least two years old and have at least 500,000 streams in the last 12 months. Artists can either be paid outright for their master recordings, or they can maintain a 50% income share, Tibon said. Duetti doesn’t purchase the publishing rights.

The company looks at data to compare tracks with statistically similar songs to make predictions about how they might perform. Duetti also markets songs they own to ensure they continue to remain relevant to listeners.

“I think the biggest thing we saw is there’s a very aligned relationship between the artists and Duetti,” said Jeremy Solomon, a partner at Nyca Partners. 

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